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Alameda County Employees seeks investment consultant

Alameda County Employees' Retirement Association, Oakland, Calif., is searching for a general investment consultant.

The $7 billion pension fund said in an RFP that the search is being conducted as a result of the recent merger between consulting firms Strategic Investment Solutions and Verus Advisory to "review the market for investment consulting services."

The pension system had been a client of Strategic Investment Solutions since 2002, but became a client of Verus after SIS merged with the firm in the beginning of 2016.

Verus is allowed to rebid for the five-year contract, with possible extensions.

To be considered, consulting firms currently must have at least three public pension fund clients, each with total assets of at least $2 billion.

The RFP is available on ACERA's website. Proposals are due by 5 p.m. PDT on Aug. 11. The pension fund's investment committee is expected to interview finalists at its Dec. 13 meeting and the retirement system's board is expected to make a decision as to the winning bidder at its Dec. 21 meeting.